James Rugg, 51, was reported missing just under a week ago last Thursday May 7.
Following extensive searches, the body of a man was located in a rural location near the town yesterday afternoon (Tuesday May 12).
Although, formal identification is yet to take place, the man is believed to be James Rugg.
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Detective Sergeant Rob Platt, based at Banbury police station, said: “Following extensive searches for James, sadly, we located the body of a man yesterday.
“We are grateful for the support from Oxfordshire Search & Rescue who assisted officers during our search and also for information provided by members of the public.
“Following a search based on a witness sighting, a helicopter crew from the National Police Air Service located a body in a rural location.
“James’s next of kin have been informed and are being offered support. Our thoughts are with them at this difficult time."
The death is being treated as unexplained, but is not believed to be suspicious.
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